Montag A & Associates Inc. Cuts Stake in Principal Financial Group, Inc. (NYSE:PFG)

Montag A & Associates Inc. lowered its stake in shares of Principal Financial Group, Inc. (NYSE:PFG) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,241 shares of the company’s stock after selling 355 shares during the period. Montag A & Associates Inc.’s holdings in Principal Financial Group were worth $1,488,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PFG. Norges Bank acquired a new position in Principal Financial Group during the fourth quarter worth about $253,990,000. RIA Advisory Group LLC boosted its position in Principal Financial Group by 35,473.1% during the fourth quarter. RIA Advisory Group LLC now owns 1,080,000 shares of the company’s stock worth $84,964,000 after acquiring an additional 1,076,964 shares during the last quarter. Wellington Management Group LLP boosted its position in Principal Financial Group by 15.0% during the third quarter. Wellington Management Group LLP now owns 4,423,975 shares of the company’s stock worth $318,836,000 after acquiring an additional 575,646 shares during the last quarter. Pinebridge Investments L.P. boosted its position in Principal Financial Group by 2,594.0% during the fourth quarter. Pinebridge Investments L.P. now owns 575,986 shares of the company’s stock worth $45,313,000 after acquiring an additional 554,606 shares during the last quarter. Finally, Trust Point Inc. acquired a new position in Principal Financial Group during the fourth quarter worth about $30,290,000. Hedge funds and other institutional investors own 75.08% of the company’s stock.

Principal Financial Group Stock Up 1.7 %

PFG traded up $1.47 during trading hours on Monday, hitting $86.40. 310,086 shares of the company’s stock were exchanged, compared to its average volume of 1,091,070. Principal Financial Group, Inc. has a 12-month low of $66.21 and a 12-month high of $86.79. The firm has a 50 day moving average of $80.88 and a 200 day moving average of $80.69. The firm has a market cap of $20.25 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 0.94 and a beta of 1.21. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.35.

Principal Financial Group (NYSE:PFG) last announced its earnings results on Thursday, April 25th. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.74 by ($0.09). Principal Financial Group had a return on equity of 15.06% and a net margin of 8.70%. The business had revenue of $4.05 billion for the quarter, compared to analysts’ expectations of $3.68 billion. During the same period in the previous year, the company earned $1.48 earnings per share. Analysts predict that Principal Financial Group, Inc. will post 7.43 EPS for the current fiscal year.

Principal Financial Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Monday, June 3rd were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from Principal Financial Group’s previous quarterly dividend of $0.69. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.29%. Principal Financial Group’s dividend payout ratio is currently 54.20%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PFG shares. Keefe, Bruyette & Woods boosted their price target on shares of Principal Financial Group from $85.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Bank of America boosted their target price on shares of Principal Financial Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Thursday. Evercore ISI boosted their target price on shares of Principal Financial Group from $84.00 to $86.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Morgan Stanley boosted their target price on shares of Principal Financial Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. upgraded shares of Principal Financial Group from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $88.00 to $96.00 in a report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $84.92.

About Principal Financial Group

Principal Financial Group, Inc provides retirement, asset management, and insurance products and services to businesses, individuals, and institutional clients worldwide. The company operates through Retirement and Income Solutions, Principal Asset Management, and Benefits and Protection segments. The Retirement and Income Solutions segment provides retirement, and related financial products and services.